Procter & Gamble Revenue Declines Despite More Price Hikes
Procter & Gamble stock is lower Tuesday after the consumer products giant reported lower-than-expected revenue in its fiscal Q4.


Procter & Gamble (PG) stock is trading notably lower Tuesday after the consumer products giant reported fiscal fourth-quarter earnings results that were mixed compared with analysts' expectations.
In the three months ended June 30, P&G's revenue declined 0.1% year-over-year to $20.5 billion due to a 2% unfavorable foreign exchange impact. This offset a 1% rise in volume and a 1% increase in prices. The company said its earnings per share (EPS) improved 2.2% from the year-ago period to $1.40.
"Fiscal year 2024 was another year of strong results for P&G," said Procter & Gamble CEO Jon Moeller in a statement. "The team met or exceeded our going-in plans for organic sales growth, core EPS growth, cash generation and cash returned to shareowners in a challenging economic and geopolitical environment."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Wall Street, meanwhile, was anticipating revenue of $20.7 billion and earnings of $1.37 per share, according to Yahoo Finance.
"As we look forward to fiscal 2025, we expect to deliver strong organic sales growth, EPS growth and free cash flow productivity – each in-line with our long-term growth algorithm," Moeller said.
For fiscal 2025, Procter & Gamble is targeting revenue growth in the range of 2% to 4%. It expects earnings per share to arrive between $6.91 to $7.05, which is in-line with analysts' forecasts for 3% revenue growth and earnings of $6.97 per share.
Is Procter & Gamble stock a buy, sell or hold?
Heading into Tuesday's session, Procter & Gamble was one of the better-performing Dow Jones stocks this year, up 18.2% on a total return basis (price change plus dividends).
As a result, Wall Street is bullish on the blue chip stock. According to S&P Global Market Intelligence, the average analyst target price for PG is $174.68, representing an upside of more than 9% from current levels. Additionally, the consensus recommendation is Buy.
Speaking for the bulls is UBS Global Research analyst Peter Grom, who has a Buy rating on PG. While Grom did not expect the company's fiscal Q4 results to be a positive catalyst for the shares amid lagging top-line growth, he has "high conviction in P&G being able to deliver on-algorithm growth in fiscal 2025, which should drive continued outperformance in our view."
Grom has an above-average price target of $191 on Procter & Gamble.
Related Content
- Best Dividend Stocks to Buy for Dependable Dividend Growth
- Earnings Calendar and Analysis for This Week
- Analysts' Top S&P 500 Stocks to Buy Now
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
Dow Rips 846 Points to New All-Time High: Stock Market Today
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
-
Test Out Your Retirement Before You Call It Quits
It's not easy to take a retirement back. Before you make the plunge, test the waters with these tips.
-
Dow Rips 846 Points to New All-Time High: Stock Market Today
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
-
Bonds Pay in Good and Bad Times
Bonds can act as a financial safety net through good times and bad. But different bonds carry different returns and risks, so do your homework before investing.
-
When You Need Capital Quickly, Think 'Ready, Set, Fund': A Financial Adviser's Strategy
Investors must be able to free up cash to meet short-term needs from time to time. This strategy will help you access capital without derailing your long-term goals.
-
I'm an Estate Planner: Moving Family Assets to a Safe Haven Abroad Could Be a Huge Headache for Your Heirs
In troubled times like these, wealthy clients may seek financial refuge outside of the U.S. But that could cause more tax and estate problems than it solves.
-
S&P 500 Extends Losing Streak Ahead of Powell Speech: Stock Market Today
Stocks continued to struggle ahead of Fed Chair Powell's Friday morning speech at Jackson Hole.
-
A Timeline of Warren Buffett's Life and Berkshire Hathaway
Buffett was the face of Berkshire Hathaway for 60 years. Here's a timeline of how he built the sprawling holding company and its outperforming equity portfolio.
-
Powell Signals Rate Cuts in His Jackson Hole Speech. Here's What Wall Street is Saying
In his speech at the Jackson Hole symposium Friday, Fed Chair Jerome Powell said current conditions "may warrant" rate cuts.
-
Fall Is Tax Time? Yes! Act Now to Make Needed Adjustments
Review your withholdings, contribute to tax-saving HSA and FSA accounts, manage a bonus' impact and adjust for major life events such as weddings and job changes.